Invenomic Capital Management LP Increases Stake in Sealed Air Corporation $SEE

Invenomic Capital Management LP boosted its position in Sealed Air Corporation (NYSE:SEE) by 18.5% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 438,282 shares of the industrial products company’s stock after acquiring an additional 68,468 shares during the period. Invenomic Capital Management LP owned 0.30% of Sealed Air worth $15,493,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in SEE. Assetmark Inc. increased its stake in shares of Sealed Air by 0.6% in the third quarter. Assetmark Inc. now owns 59,172 shares of the industrial products company’s stock worth $2,092,000 after purchasing an additional 331 shares in the last quarter. Corient Private Wealth LLC lifted its stake in shares of Sealed Air by 3.9% during the 2nd quarter. Corient Private Wealth LLC now owns 11,432 shares of the industrial products company’s stock valued at $355,000 after buying an additional 431 shares in the last quarter. Empowered Funds LLC boosted its holdings in shares of Sealed Air by 4.1% in the first quarter. Empowered Funds LLC now owns 12,560 shares of the industrial products company’s stock worth $363,000 after acquiring an additional 500 shares during the period. Texas Permanent School Fund Corp grew its holdings in Sealed Air by 0.7% during the 2nd quarter. Texas Permanent School Fund Corp now owns 67,852 shares of the industrial products company’s stock valued at $2,105,000 after buying an additional 505 shares in the last quarter. Finally, 44 Wealth Management LLC grew its stake in Sealed Air by 2.2% during the third quarter. 44 Wealth Management LLC now owns 26,167 shares of the industrial products company’s stock valued at $925,000 after acquiring an additional 565 shares in the last quarter. 94.40% of the stock is owned by hedge funds and other institutional investors.

Sealed Air Stock Performance

Shares of NYSE SEE opened at $41.82 on Monday. The stock’s 50-day moving average is $41.84 and its 200 day moving average is $39.00. The stock has a market cap of $6.16 billion, a price-to-earnings ratio of 12.19 and a beta of 1.35. Sealed Air Corporation has a 1-year low of $22.78 and a 1-year high of $44.27. The company has a current ratio of 0.91, a quick ratio of 0.56 and a debt-to-equity ratio of 2.65.

Sealed Air (NYSE:SEE) last issued its earnings results on Monday, March 2nd. The industrial products company reported $0.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.72 by $0.05. The business had revenue of $1.40 billion during the quarter, compared to analyst estimates of $1.34 billion. Sealed Air had a return on equity of 47.21% and a net margin of 9.43%.Sealed Air’s revenue for the quarter was up 2.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.75 earnings per share. On average, sell-side analysts anticipate that Sealed Air Corporation will post 3.05 EPS for the current fiscal year.

Sealed Air Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 27th. Shareholders of record on Friday, March 13th will be paid a $0.20 dividend. The ex-dividend date of this dividend is Friday, March 13th. This represents a $0.80 annualized dividend and a yield of 1.9%. Sealed Air’s payout ratio is currently 23.32%.

Analyst Ratings Changes

Several equities analysts recently commented on the company. Robert W. Baird restated a “neutral” rating and set a $42.00 target price (down from $45.00) on shares of Sealed Air in a research report on Thursday, December 18th. Wall Street Zen cut shares of Sealed Air from a “strong-buy” rating to a “buy” rating in a research report on Sunday, November 16th. Stifel Nicolaus reiterated a “hold” rating and set a $45.00 target price (up from $43.80) on shares of Sealed Air in a research report on Monday, November 17th. Truist Financial increased their price target on shares of Sealed Air from $45.00 to $49.00 and gave the stock a “buy” rating in a report on Tuesday, January 6th. Finally, Raymond James Financial cut shares of Sealed Air from an “outperform” rating to a “market perform” rating in a research report on Monday, December 22nd. Seven equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, Sealed Air has a consensus rating of “Moderate Buy” and an average price target of $44.09.

Sealed Air Company Profile

Sealed Air Corporation is a global packaging company that develops and manufactures a wide range of materials, equipment and services designed to protect, preserve and promote products. Best known for inventing Bubble Wrap® protective packaging, the company serves customers across food and beverage, e-commerce, electronics, manufacturing and healthcare industries. Sealed Air’s solutions help businesses reduce product damage, extend shelf life and improve operational efficiency.

The company’s product portfolio is organized into three primary segments.